Know the practice of digital payment method

Electronic payment is nothing but the non-cash payment Without involving any newspaper cheque. The most common electronic payment methods are credit card, debit card and ACH ( automated clearing house) network. For the above procedures, there are three major types of transactions happen.



One-time client to Seller payment

This really is one of the common Procedures That's highly used in most e-commerce platforms. You will find a product online and you will proceed to pay for that product. Here you'll enter all your credit card details in the relevant fields and the site will process your charge card and will send you mail notifying you that the payment has been processed. Some sites also accept e-checks rather than credit cards. For sending e-checks you need to type your bank account number along with your bank routing number. The seller authorizes your payment and you'll get the notification.

Recurring client to Seller payment

Paying your bills isn't a one-time procedure. As it keeps Discussing each month, you want to put up a program with this payment. Either you can program the payment with your debit card where the amount is debited from the account or even it is possible to use your credit card and it's going to be compensated through your credit card. This is 1 sort of trade that all people have done it.




Automated bank to Seller payment

In this process, cvv shop you've got Licensed your vendor with your bank accounts so the amount will probably be Automatically transferred to the vendor's account. You can either pick to Have this procedure happen manually so that every time you can initiate the Transaction else you're able to make it happen automatically Without your intervention.